Melbourne, Australia, Aug 19, 2020 - (ABN Newswire) - Nova Minerals Limited (ASX:NVA) (HAM:QM3) (OTCMKTS:NVAAF) is pleased to provide an update on its current drilling and assays for the Korbel prospect (table 1), within the Company's flagship Estelle Gold Project located in the prolific Tintina Gold Belt.
Estelle continues to grow into a very large continuous gold system with further broad intervals at Korbel identified, where mineralisation remains open at depth and strike.
Continuity of gold mineralisation confirmed at Korbel defined by KBDH-005 to 012
Significant new diamond drilling gold intercepts at Korbel include:
- 101m @ 1.3 g/t incl. 82m @ 1.5 g/t, 30m @ 2.4 g/t, 3m @ 7.7 g/t, 6m @ 4.7 g/t and 3m @ 8.2 g/t in KDBH-012
KBDH-012 returned an overall average grade of 0.6 g/t Au over 429m from 3m within the Korbel intrusive with multiple high-grade zones
- 150m @ 0.6 g/t incl. 21m @ 1.6 g/t in KBDH-005
- 163m @ 0.6 g/t incl. 87m @ 0.7 g/t in KBDH-009
- 137m @ 0.6 g/t incl. 97m @ 0.7 g/t in KBDH-010
- South East of Block B continues to grow outside the current 2.5Moz resource model
- Gold footprint for Block A and B extends +1500m strike
o Significant growth potential remains
o Many holes end in mineralisation or have further depth potential.
o New zones discovered, particularly to the south and east
- Phase 1 Mineral Resource update on Block B due shortly
NVA CEO, Mr. Christopher Gerteisen commented: "The scale and dimensions of the near surface and continuous mineralisation at Korbel continue to impress, particularly with the high-grade pods now being identified outside the current 2.5Moz resource model as we increase the overall footprint of the system, along strike and down dip where substantial thicknesses of mineralisation remain open.
As we have repeatedly stated, our next corporate goal was to add significant ounces in this current drill program and we strongly believe this will be eclipsed during the course of this year.
Drilling is continuing with one diamond drill rig now on Block A, Pad 2, where similar potential to Block B remains. We are working to extend the resource both in strike and length; the second diamond rig is completing Pad 2 while Pad 6 is to follow on the high-grade zone to the southeast, which we have now discovered. In addition, we will be commencing RC drilling to scout targets within Korbel, testing the deposit at strike length- another encouraging step on our path towards production.
To view tables and figures, please visit:
About Nova Minerals Ltd:
Nova Minerals Limited (ASX:NVA) (FRA:QM3) is an ASX-listed minerals explorer focused on lithium, gold and mineral exploration in Canada, Alaska and Australia.
The company plans to create shareholder value through two-pronged strategy:
- Capitalise on the growing demand for energy storage and the resulting demand for lithium, cobalt and nickel by fast-tracking exploration and development activities in our North American assets with particular focus on our flagship lithium project and prospective Chip-Loy Nickel Cobalt Sulphides project.
- Diversification by gaining exposure to base and precious metals through our farm-in JV at our district scale Estelle gold copper silver project and our Northern Australian gold exploration assets.
Nova Minerals Ltd
Nova Minerals Ltd
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